Leaving a job and then going bankrupt

debt23

Hi,

Just a question about bankruptcy if I may.....

With one thing and another I have had a change of circumstances which means my monthly 'living wage' is very low - i.e I now live at home with my parents and give them £200 rent.

I have a job but I am not overly happy with it plus it's some distance away and very long hours.

I'm very tempted to just pack it all in and settle for a nice quiet life for a year or so doing simple things such as part time work or even leaflet delivery just to pay my small outgoings.

If I go BR during this time, will it have any bearing on how things are conducted if it is seen that I left a full time job for no particular reason ?

To be honest, I want to go BR but don't wan't to be holding down a job just to give all my spare cash to my creditors - yes, I know that is not right - but I gave up punishing myself over issues like that ages ago.

Believe me, like many, I have more than paid the price for my financial stupidity !

Thanks for any advice

dojoman

debt23 wrote: »

Hi,

Just a question about bankruptcy if I may.....

With one thing and another I have had a change of circumstances which means my monthly 'living wage' is very low - i.e I now live at home with my parents and give them £200 rent.

I have a job but I am not overly happy with it plus it's some distance away and very long hours.

I'm very tempted to just pack it all in and settle for a nice quiet life for a year or so doing simple things such as part time work or even leaflet delivery just to pay my small outgoings.

If I go BR during this time, will it have any bearing on how things are conducted if it is seen that I left a full time job for no particular reason ?

To be honest, I want to go BR but don't wan't to be holding down a job just to give all my spare cash to my creditors - yes, I know that is not right - but I gave up punishing myself over issues like that ages ago.

Believe me, like many, I have more than paid the price for my financial stupidity !

Thanks for any advice

In answer to the highlighted question, no it will not make any difference at all.

yesican

Believe me,for someone who is desperately looking for a part time job as im a full time student and a mother ,ive been applying since the end of September 2010-right now is not the best time to quit-try and find positives in your job rather than negatives..Going BR while working wont make any difference.

What if you gave yourself 6 months from now and try and think positively-anything that you cant stand at work,try and look at it at a different angle.Sometimes, we dont know what we've got until its too late..

I wish all the very best and i hope all goes well for you.

Peace

Momofone

andyf1980

I kind of did just that although in a roundabout way.

I was able to get JSA and housing benefit as they judged that I hadn't left my job voluntarily (I was off sick for a long time from my job in the city)

I found it very difficult to find another job and I was more or less prepared to do anything. It was very disheartening applying for casual work and being turned down.

I went br in October and started a new job in November which I love.

Think it's just a case of weighing up the pros and cons of whatever you decide to do.

Oh and just thinking about it, going br is a big thing to do emotionally and I'm not sure about anyone else but don't think I'd want to be dealing with that and a new job.:mad:

BRSurvivor

debt23 wrote: »

Hi,

Just a question about bankruptcy if I may.....

With one thing and another I have had a change of circumstances which means my monthly 'living wage' is very low - i.e I now live at home with my parents and give them £200 rent.

I have a job but I am not overly happy with it plus it's some distance away and very long hours.

I'm very tempted to just pack it all in and settle for a nice quiet life for a year or so doing simple things such as part time work or even leaflet delivery just to pay my small outgoings.

If I go BR during this time, will it have any bearing on how things are conducted if it is seen that I left a full time job for no particular reason ?

To be honest, I want to go BR but don't wan't to be holding down a job just to give all my spare cash to my creditors - yes, I know that is not right - but I gave up punishing myself over issues like that ages ago.

Believe me, like many, I have more than paid the price for my financial stupidity !

Thanks for any advice

I left a good job late in 2009, and went bankrupt in early 2010. I was working in the financial sector, so wouldn't have been able to keep my job when I went bankrupt. Additionally, we also relocated some 250 miles to be closer to family.

I'm not sure which was the chicken and which was the egg. As a family we no longer wanted to be living so far away from our close family, and I was the only earner and after mortgage, travel to work costs, and loan payment we had less than £500 to pay council tax, all the other bills and buy food etc, plus some credit card debt.

I was asked why didn't we look at the mortage rescue plan etc, but that was by the Job Centre, not the OR.

I think you need to take some advice from one of the debt charities. If you're seen as delibrately trying to get out of paying an IPO, that may have some bearing on the outcome of the bankruptcy?

debt_doctor

You should do what you feel is right and best for you. Some (and I was one) need a rest after years of uphill strugle against debt (and other things...). Others want and need to continue to work through it, and thats fine too.

The very last thing you need to consider is those 'poor' creditors.

It is your choice whether you work or not, that will not affect your BR in any way. If you intend to claim benefits, then you would have to show 'good cause' for giving up your last job.

DD

McKneff

Its hard not to judge when youve been shafted and end up penniless by someone not too unlike the OP to be honest.

'Poor creditors' it made me very much so.

the_bright_side

Mckneff have you ever been on the brink of bankruptcy, if you had you would know that even posting on this site is difficult. Some people find themselves in a financial mess and give up, where others still persist and try, pretty much like the homeless, which you ask us all to consider. Why in this day and age are they homeless, because of circumstance, just like some BR,s. If his way of handling it is to work part time then that s best for him. As for morals, where are the morals of the banks and finance sector??

andyf1980

McKneff wrote: »

Its hard not to judge when youve been shafted and end up penniless by someone not too unlike the OP to be honest.

'Poor creditors' it made me very much so.

Just because you had a bad experience with one bankrupt, it doesn't mean everyone is like that. People go bankrupt for a variety of reasons and differing circumstances. Very few people would choose to go bankrupt.

McKneff

the_bright_side wrote: »

Mckneff have you ever been on the brink of bankruptcy, if you had you would know that even posting on this site is difficult. Some people find themselves in a financial mess and give up, where others still persist and try, pretty much like the homeless, which you ask us all to consider. Why in this day and age are they homeless, because of circumstance, just like some BR,s. If his way of handling it is to work part time then that s best for him. As for morals, where are the morals of the banks and finance sector??

Fortunatley, I havent but as i said in my post, I have great sympathy with those who end up bankrupt through no fault of their own.
But....... The OP seems to be cold and calculating about it, without a thought for anyone elses circumstances and that's what sticks in my craw.

McKneff

andyf1980 wrote: »

Just because you had a bad experience with one bankrupt, it doesn't mean everyone is like that. People go bankrupt for a variety of reasons and differing circumstances. Very few people would choose to go bankrupt.

Ditto post 12.

I know that every bankrupt is different.

The op is contemplating choosing to go bankrupt